John D. Johns to Become Protective’s Executive Chairman and Richard J. Bielen Elected President and Chief Executive Officer

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BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Corporation (“Protective”), a wholly-owned U.S.
subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750, “Dai-ichi”),
announced today that its board of directors has elected John D. Johns
(65), the company’s Executive Chairman and Richard J. Bielen (56) the
Company’s President and Chief Executive Officer. These changes are
effective July 1, 2017.

Mr. Johns joined Protective in 1993 as the Company’s Executive Vice
President and Chief Financial Officer, and became CEO in 2002. During
his tenure at Protective, the Company’s market value grew from
approximately $580 million to approximately $5.6 billion in 2015 when it
was acquired and became the United States platform for Dai-ichi Life of
Tokyo, Japan.

Under Mr. Johns’ leadership, Protective has earned a reputation as an
industry-leading acquirer of life insurance policies, a leader in
digital innovation in its customer-focused retail franchise, a respected
supplier of product and services to its traditional distribution
partners and a great place for employees to work and build careers.

Mr. Johns has been extensively involved in civic and industry efforts,
including service as chair of the American Council of Life Insurers
(ACLI), Birmingham Business Alliance, Business Council of Alabama,
McWane Science Center, Innovation Depot, Boy Scouts of America – Greater
Alabama Council, and many other organizations. Mr. Johns was elected to
the Alabama Academy of Honor in 2013.

Mr. Johns has also been deeply engaged in fund raising and philanthropy,
serving in a leadership role in capital campaigns in support of many
non-profits, including Innovation Depot, Railroad Park, Children’s Aid
Society, the Birmingham Civil Rights Institute, Pre-School Partners and
McWane Science Center. He is currently serving as the Co-chair of the $1
billion Campaign for UAB. During Mr. Johns’ time as CEO, the Protective
Life Foundation has made cumulative contributions totaling almost $40
million to improve the quality of life in our communities.

Mr. Bielen joined Protective in 1991 as Vice President, Securities. He
became Chief Investment Officer in 2002 overseeing a portfolio that
started at $13.3 billion and grew to $27.9 billion in 5 years before
being named Vice Chairman and Chief Financial Officer in 2007. In
addition to his responsibilities as CFO, Mr. Bielen had overall
responsibility for the Stable Value, Asset Protection and Acquisitions
businesses. He became a member of Protective’s Board of Directors in
2015. In 2016 he was named President and Chief Operating Officer and
assumed additional overall responsibility for the Life and Annuity
business, Operations and Information Technology.

“I am delighted by Rich Bielen’s election as the seventh CEO of
Protective. Rich is immensely talented and has all the skills and
attributes needed to successfully lead the Company in the future,” said
Mr. Johns. “I’m confident that Protective will continue to grow and
prosper under Rich’s leadership and that Protective’s best days lie
ahead.”

“I am deeply honored to be elected CEO of Protective,” said Bielen.
“With the solid foundation established under Johnny’s leadership, we are
well positioned to continue to grow and deliver on the promises to our
customers and the communities we serve. I look forward to working with
Dai-ichi, our distribution partners and the talented and committed
people of Protective.”

ABOUT PROTECTIVE

Protective Life Corporation provides financial services through the
production, distribution and administration of insurance and investment
products throughout the U.S. The flagship subsidiary, Protective Life
Insurance Company, was founded in 1907. Protective’s home office is
located in Birmingham, Alabama. As of December 31, 2016 the Company had
assets of approximately $75.0 billion. Protective Life Corporation is a
wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750,
“Dai-ichi”)